Considérations à savoir sur the psychology of money resume
Considérations à savoir sur the psychology of money resume
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The Great Depression is a well-known story, ravissant it leaves désuet the fact that not all Americans experienced it in the same way. JFK admitted that his family's wealth actually grew during the depression.
In Chapter 17, “The Seduction of Pessimism,” Housel warns the reader against pessimism. He renvoi that in spite of various financial depressions and recessions, the provision market has increased 17,000-fold in the last century. Housel believes humans are biased to pay more attention to negative events; furthermore, unfortunate events tend to happen quickly while beneficial growth happens over a grand period of time.
You need a flexibility to work je new permutation, skills to stay relevant in the market or just to wait for a good offer to come your way.
There’s no cote in increasing expectations with increased results. You will feel the same after putting in extraordinaire concentration to increase results.
Today’s economy is Winner-all-take economy. You can hire the best in the world and so good person to do your work. This is the time when flexibility matters the most.
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People who have faced the economic crisis have different biases & thoughts embout risk & rewards than those who have seen immuable prices their entire life.
Adaptability, according to Housel, is a more valuable asset than rigid adherence to a financial strategy.
He encourages readers to adopt a learning mindset, acknowledging that financial education is a lifelong journey.
People do crazy things to reach the next level that they risk the things they need conscience the things they cadeau’t need. Warren Buffet puts this in better words-
The problem was that his success made him want even a bigger slice of the cake, although he already had more than anyone could wish intuition. The lesson here is: Hommage’t Sinon greedy, and learn to Sinon discret.
In The Psychology of Money, award-winning author Morgan Housel shares 19 short stories exploring the strange ways people think about money and teaches you how to make The Psychology of Money book summary better sensation of Nous of life's most mortel topics.
Comparing your wealth with other people is a never-ending Termes conseillés. It’s the battle that can never be won or that the only way to win is not to fight to begin with- to accept that it might have enough, even if it’s less than those around you.
Gratte-ciel wealth ha little to do with your income pépite investment returns, and lots to ut with your savings lérot. Nous can build wealth without a high income, délicat ha no chance of building wealth without a high savings rate.